It’s the first weekend of the month, so you know what that means: the Pittsford housing report! As a bonus, the 2nd Quarter Housing Statistics were just released from the Greater Rochester Association of Realtors, so let’s start there:
· Pending sales grew by 7% compared to this time last year.
· 7413 homes were listed for sale this quarter, the highest since 1997
· The median sale price for the Greater Rochester Area climbed to 133k overall.
· The current market is very active as many are seeking to take advantage of the low interest rates and increased inventory.
Let’s take a closer look at some recent Pittsford numbers, now that the 3rd quarter is well under way:
In the last 60 days, 47 homes were sold with a median sale price of 305k.
Currently, there are 104 homes that are under contract.
The average days on the market for these properties was 13. Given that the status of most listings is not changed to pending until the home inspection has been completed and the attorneys approvals have been received, properties are not staying on the market that long
As we speak, 145 homes are listed as active with an average sale price of 396k.
Prices on these homes range from 125k to 1.7 million. To Be Built listings increase the average sale price from where it normally would be. As we shared before, new construction is on the rise and we are happy to assist in this process.
Normally, we think of the spring market as being the most active. However, with a polar vortex in the beginning of spring, followed by a lack of inventory later in the season, research is showing us that many buyers are still out and about and ready to make purchases and we’re seeing more sellers enter the summer market. With new down payment programs (find out more from our trusted partner, Mike Monile) and interest rates still low, there are great opportunities for everyone. If you’d like to know what your options are, or would like to know the value of your home, we’re happy to help. Contact us today!